Morgan Stanley set a $100.00 target price on CVS Health (NYSE:CVS) in a research note issued to investors on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the pharmacy operator’s stock.
Several other equities analysts have also commented on the stock. Bank of America raised their target price on shares of CVS Health from $86.00 to $90.00 and gave the company a buy rating in a report on Monday, September 17th. ValuEngine lowered shares of CVS Health from a sell rating to a strong sell rating in a report on Tuesday, September 4th. Royal Bank of Canada lifted their price target on shares of CVS Health to $101.00 and gave the company an outperform rating in a report on Tuesday, September 18th. Tigress Financial reaffirmed a buy rating on shares of CVS Health in a report on Friday, October 26th. Finally, Leerink Swann set a $80.00 price target on shares of CVS Health and gave the company an outperform rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of Buy and an average target price of $89.38.
CVS stock traded down $0.22 during mid-day trading on Wednesday, hitting $79.83. The stock had a trading volume of 5,761,328 shares, compared to its average volume of 8,350,557. The company has a quick ratio of 1.87, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. CVS Health has a 52 week low of $60.14 and a 52 week high of $83.88. The firm has a market cap of $80.25 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.05 and a beta of 0.98.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the sale, the executive vice president now directly owns 12,135 shares of the company’s stock, valued at approximately $910,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the sale, the executive vice president now directly owns 55,162 shares in the company, valued at $4,256,299.92. The disclosure for this sale can be found here. Insiders have sold a total of 43,409 shares of company stock worth $3,392,097 over the last ninety days. 0.53% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CVS. Fisher Asset Management LLC grew its holdings in CVS Health by 5.7% during the 2nd quarter. Fisher Asset Management LLC now owns 317,675 shares of the pharmacy operator’s stock worth $20,442,000 after acquiring an additional 17,250 shares during the last quarter. Pure Financial Advisors Inc. acquired a new position in shares of CVS Health in the 2nd quarter worth approximately $205,000. Private Asset Management Inc. acquired a new position in shares of CVS Health in the 2nd quarter worth approximately $342,000. Sanders Morris Harris LLC acquired a new position in shares of CVS Health in the 2nd quarter worth approximately $225,000. Finally, TNB Financial lifted its position in shares of CVS Health by 58.3% in the 2nd quarter. TNB Financial now owns 212,447 shares of the pharmacy operator’s stock worth $13,671,000 after purchasing an additional 78,228 shares during the period. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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